Held that toll bridge and toll roads are not tangible assets of assessee in terms of Explanation-3(a) to section 32(1)(ii),hence not entitle to depreciation.. (AY. 2013-14, 2014-15)
Hazaribagh Ranchi Expressway Ltd. v. ACIT (2024) 209 ITD 522 (Mum.) (Trib.)
S. 32 : Depreciation-Toll roads-Constructing a road on BOT basis on Government land-Not owner of road-Toll bridge and toll roads are not tangible assets of assessee in terms of Explanation-3(a) to section 32(1)(ii) [S.32(1)(ii)]